Britain's financial regulator has fined digital bank Monzo 21 million pounds ($28.57 million) for inadequate protection ...

Monzo had no process to verify customer addresses, leading to accounts given to fake Buckingham Palace address.

Monzo handed out bank accounts to new customers claiming to live in 10 Downing Street and even Buckingham Palace. The digital ...

The digital bank has been fined £21m by the City regulator for anti-fraud failures.

Britain's Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to ...

The UK financial regulator has fined Monzo £21mn for repeatedly breaching rules against opening accounts for “high-risk customers” after the digital bank took on clients that provided “obviously ...

Monzo Bank has been fined £21million for 'inadequate anti-financial crime systems' spanning a period between October 2018 and ...

Monzo has been fined £21m by the FCA after allowing fraudsters to open accounts using implausible addresses including ...

FCA mentioned that Monzo's address verification controls were inadequate, as they failed to verify all beneficial owners and ...

The bank failed to maintain adequate anti-financial crime systems and controls from October 2018 to August 2020.

Britain’s digital bank Monzo has been fined £21 million (€25 million) for failing to prevent financial crime, after it ...

The FCA said Monzo’s financial fraud systems and controls ‘failed to keep pace’ with its rapid growth in customers numbers in ...